Understanding Ravencoin (RVN)
Ravencoin (RVN) is a blockchain platform specifically designed for the creation and transfer of assets. It facilitates the tokenization of real-world assets, making it easier to represent physical items digitally on a secure and decentralized network. The native cryptocurrency of the Ravencoin network is RVN, which is used to pay for transaction fees and asset creation.
The live Ravencoin price is $0.01340**, with a 24-hour trading volume of approximately **$21.67 million. Over the past day, the price has seen a minor decrease of -0.29%, while its value against the US Dollar has declined by -4.42% over the last week. With a circulating supply of 15.32 billion RVN, Ravencoin's current market capitalization stands at $205.96 million, ranking it #134 among all cryptocurrencies.
Key Market Metrics
- 24h Low / 24h High: $0.01322 / $0.01370
- All-Time High (ATH): $0.28547 (down -95.31% from ATH)
- All-Time Low (ATL): $0.00879 (up +52.38% from ATL)
- Max Supply: 21 billion RVN
Real-Time Price Performance
Tracking price performance over different timeframes provides valuable context for market sentiment and potential trends.
| Period | Price Change | Percentage Change |
|---|---|---|
| Today | -$0.00005 | -0.30% |
| Last 7 Days | -$0.00052 | -3.67% |
| Last 30 Days | +$0.00216 | +19.22% |
| Last 3 Months | +$0.00179 | +15.42% |
What Influences the Ravencoin (RVN) Price?
Like most cryptocurrencies, the price of RVN is primarily driven by the fundamental economic principles of supply and demand. Several key factors can influence this balance:
- Market Sentiment: Overall investor sentiment in the cryptocurrency space significantly impacts altcoins like RVN. Positive news about blockchain adoption or negative regulatory announcements can cause wide price swings.
- Network Utility: The demand for creating and transferring assets on the Ravencoin blockchain can drive the need for RVN tokens to pay for transactions.
- Broader Crypto Market Trends: RVN often moves in correlation with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). A bull or bear market in the broader ecosystem usually affects RVN accordingly.
- Exchange Listings: Being listed on new, major cryptocurrency exchanges can increase accessibility and trading volume, potentially affecting the price.
- Development Activity: Ongoing improvements, updates, and community development around the Ravencoin protocol can influence long-term investor confidence.
For those looking to dive deeper into on-chain metrics and trading strategies, you can explore more advanced analysis tools.
Ravencoin (RVN) Conversions
The value of 1 Ravencoin (RVN) fluctuates against various global fiat currencies. Here are some key conversions based on current market rates:
- 1 RVN to USD: $0.01340
- 1 RVN to EUR: €0.01139
- 1 RVN to AUD: $0.02038
- 1 RVN to JPY: ¥1.93
- 1 RVN to GBP: £0.00981
- 1 RVN to KRW: ₩18.3
👉 Get real-time conversion rates for RVN
How to Store Ravencoin (RVN) Securely
Securely storing your RVN tokens is crucial. You have several options, each with its own trade-offs between convenience and security:
- Hosted Exchange Wallets: The simplest option for beginners. The exchange holds your private keys, removing the technical burden from you. This is best for small amounts or active trading.
- Non-Custodial Wallets: You control your private keys. These include software wallets (browser extensions, mobile apps, desktop applications) and offer a good balance of security and convenience for regular use.
- Hardware Wallets: Physical devices that store your private keys offline, providing the highest level of security against online threats. Ideal for long-term storage of significant holdings.
- Paper Wallets: A physical document containing your public and private keys. It is highly secure from digital attacks but must be stored physically safely to prevent loss or damage.
How to Convert Ravencoin (RVN) to Cash
Converting your RVN into traditional fiat currency (like USD, EUR, etc.) typically involves a two-step process:
- Sell RVN for a Stablecoin: First, sell your RVN on a spot market for a stablecoin like USDT or USDC. This moves your value into a dollar-pegged asset.
- Cash Out the Stablecoin: Next, use a peer-to-peer (P2P) platform or a direct crypto-to-fiat trading pair supported by your exchange to sell your stablecoins for your local currency. The funds can then be withdrawn to your bank account.
Some platforms also offer direct crypto-to-fiat pairs for certain currencies, potentially simplifying the process.
Frequently Asked Questions
What is Ravencoin (RVN) used for?
Ravencoin is primarily used for creating and transferring unique digital assets on its blockchain. These assets can represent real-world items like property, commodities, or even event tickets. The RVN token is required to pay for the creation of these assets and for transaction fees on the network.
How many Ravencoin coins are there?
As of now, there are approximately 15.32 billion RVN coins in circulation. The protocol has a maximum supply cap of 21 billion RVN, which will be reached through a fair, mining-based emission schedule.
Is Ravencoin a good investment?
The potential of Ravencoin as an investment depends on your risk tolerance and belief in the future of asset tokenization. Its specialized use case gives it a unique niche in the crypto market. However, like all cryptocurrencies, it is subject to high volatility and market risk. Always conduct thorough research and consider your financial situation before investing.
Where can I buy Ravencoin?
RVN is listed on numerous major cryptocurrency exchanges. You can typically purchase it using other cryptocurrencies like BTC, ETH, or USDT on spot trading markets. The process involves funding your exchange account and executing a buy order for RVN.
What is the difference between Ravencoin and Bitcoin?
While both use proof-of-work mining, they have different goals. Bitcoin is designed primarily as a decentralized digital currency and store of value. Ravencoin is built as a platform for asset creation and transfer, branching into a more specific utility beyond pure currency.
Can Ravencoin reach its all-time high again?
Predicting future prices is impossible. For RVN to approach its all-time high again, it would require a massive increase in adoption of its asset creation platform, a extremely bullish overall crypto market, and a significant surge in demand for the token. It's important to base investment decisions on project fundamentals and technological merit rather than price speculation.